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Graham Number is a figure that measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.
MAARF'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.47 Med: 8.93 Max: 17.27
Current: 2.14
During the past 6 years, the highest Price to Graham Number ratio of Quants Research Institute Holdings was 17.27. The lowest was 1.47. And the median was 8.93.
MAARF's Price-to-Graham-Number is ranked worse than 78.22% of 528
companies
in the Capital Markets industry
Industry Median: 1.13
vs MAARF: 2.14
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Quants Research Institute Holdings (OTCPK:MAARF) Graham Number Explanation
Ben Graham actually did not publish a formula like this. But he wrote in The Intelligent Investor (1948 version) regarding to the criteria for purchases:
Current price should not be more than 15 times average earnings of the past three years.
Current price should not be more than 1.5 times the book value last reported. However, a multiplier of earnings below 15 could justify a correspondingly higher multiplier of assets. As a rule of thumb we suggest that the product of the multiplier times the ratio of price to book value should not exceed 22.5. (This figure corresponds to 15 times earnings and 1.5 times book value. It would admit an issue selling at only 9 times earnings and 2.5 times asset value, etc.)
Unlike valuation methods such as DCF or Discounted Earnings, the Graham number does not take growth into the valuation. Unlike the valuation methods based on book value alone, it takes into account the earnings power. Therefore, the Graham Number is a combination of asset valuation and earnings power valuation.
In general, the Graham number is a very conservative way of valuing a stock. It cannot be applied to companies with negative book values.
Quants Research Institute Holdings's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
8.4644
/
2.56
=
3.31
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Be Aware
Please keep these in mind:
1. Graham Number does not take growth into account. Therefore it underestimates the values of the companies that have good earnings growth. We feel that if the earnings per share grows more than 10% a year, Graham Number underestimates the value.
2. Graham Number punishes the companies that have temporarily low earnings. Therefore, an average of earnings makes more sense in the calculation of Graham Number.
3. Graham Numbers underestimates companies that are light with book.
Quants Research Institute Holdings Graham Number Related Terms
Quants Research Institute Holdings Graham Number Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Quants Research Institute Holdings Graham Number Chart
For the Capital Markets subindustry, Quants Research Institute Holdings's Price-to-Graham-Number, along with its competitors' market caps and Price-to-Graham-Number data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Quants Research Institute Holdings Price-to-Graham-Number vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Quants Research Institute Holdings's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Quants Research Institute Holdings's Price-to-Graham-Number falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Quants Research Institute Holdings (MAARF) has a Graham Number of $2.56 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Quants Research Institute Holdings and its competitors. This is 71% below median its historical median of 8.93. Over the past decade, Quants Research Institute Holdings' Graham Number has ranged from 1.47 to 17.27. According to the industry distribution chart, Quants Research Institute Holdings ranks #413 out of 528 companies in the Capital Markets industry, placing it in the top 78.2%.
Is Quants Research Institute Holdings' Graham Number too high?
Quants Research Institute Holdings' current Graham Number of $2.56 is 71% below median its 10-year median of 8.93. Over the past 10 years, this metric has ranged from a low of 1.47 to a high of 17.27. The Capital Markets industry median Graham Number is 1.13. Quants Research Institute Holdings' value of $2.56 is 126.5% above this industry median. Based on the distribution chart, Quants Research Institute Holdings ranks #413 out of 528 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, Quants Research Institute Holdings has a GF Score™ of 84/100, reflecting its overall financial health beyond just this single metric.
How does Quants Research Institute Holdings' Graham Number compare to MS and GS?
According to the Capital Markets industry distribution chart, Quants Research Institute Holdings ranks #413 out of 528 companies for Graham Number. This places Quants Research Institute Holdings in the lower half of its industry. The industry median Graham Number is 1.13. Quants Research Institute Holdings' value of $2.56 is 126.5% above this benchmark. Historically, Quants Research Institute Holdings' own Graham Number has ranged from 1.47 to 17.27 over the past decade. While the company's 10-year median is 8.93 vs. the industry median of 1.13, Quants Research Institute Holdings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Graham Number for a Capital Markets company?
The median Graham Number among Capital Markets companies is 1.13, based on 528 companies in the industry. Companies in the top quartile (top 25%) have a Graham Number significantly above this median, while those in the bottom quartile fall well below. However, Graham Number should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Quants Research Institute Holdings's current Graham Number of $2.56 is 126.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Graham Number mean?
A high Graham Number can signal that a stock is expensive relative to its fundamentals. The Graham Number values a company based on its per-share earnings and book value. View historical data on Quants Research Institute Holdings and its competitors. For the Capital Markets industry, the median Graham Number is 1.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Quants Research Institute Holdings's current Graham Number is $2.56, which is 71% below median its own 10-year median of 8.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Quants Research Institute Holdings stock overvalued right now?
Quants Research Institute Holdings (MAARF) has a current Graham Number of $2.56. The stock's GF Value™ is $30.26, compared to a current price of $8.46 — trading 72% below its estimated fair value. The current Graham Number is $2.56, which is 71% below median its 10-year median of 8.93 and 126.5% above the Capital Markets industry median of 1.13. Quants Research Institute Holdings' overall GF Score™ is 84/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Graham Number calculated?
Graham Number is calculated from a company's financial statements. For Quants Research Institute Holdings (MAARF), the current Graham Number is $2.56 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Quants Research Institute Holdings (MAARF) Overvalued in 2026?
Based on GuruFocus' analysis, Quants Research Institute Holdings stock appears to be undervalued.
The current stock price of $8.46 is trading 72% below its estimated GF Value™ of $30.26.
Key valuation signals for MAARF:
Graham Number: $2.56 (71% below median its 10-year median of 8.93)
GF Value™: $30.26 vs. price of $8.46 (72% below fair value)
Industry Position: 126.5% above the Capital Markets median (#413 of 528)
No single metric tells the full story. See the MAARF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Quants Research Institute Holdings Business Description
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